Camden National (NASDAQ:CAC) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of Camden National (NASDAQ:CAC) in a research note published on Saturday. The brokerage issued a hold rating on the financial services provider’s stock.

CAC has been the topic of several other research reports. Keefe, Bruyette & Woods raised their target price on shares of Camden National from $40.00 to $41.00 and gave the stock a market perform rating in a report on Wednesday, September 11th. Stephens raised their price target on shares of Camden National from $35.00 to $42.00 and gave the stock an equal weight rating in a report on Friday, August 2nd.

Camden National Price Performance

Shares of NASDAQ:CAC opened at $40.18 on Friday. The company’s fifty day moving average is $38.51 and its 200 day moving average is $34.20. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.09. Camden National has a 52 week low of $26.52 and a 52 week high of $43.44. The stock has a market cap of $586.91 million, a PE ratio of 13.35 and a beta of 0.72.

Camden National (NASDAQ:CAC) last released its earnings results on Tuesday, July 30th. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.10. Camden National had a return on equity of 10.36% and a net margin of 16.01%. The company had revenue of $72.81 million during the quarter, compared to analyst estimates of $41.07 million. During the same quarter in the previous year, the company posted $0.85 EPS. Research analysts anticipate that Camden National will post 3.34 earnings per share for the current year.

Camden National Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Investors of record on Monday, July 15th were issued a dividend of $0.42 per share. The ex-dividend date was Monday, July 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 4.18%. Camden National’s dividend payout ratio is presently 55.81%.

Institutional Trading of Camden National

Large investors have recently added to or reduced their stakes in the stock. Kimelman & Baird LLC purchased a new stake in shares of Camden National in the 2nd quarter worth about $4,943,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Camden National in the second quarter worth about $73,000. Creative Planning boosted its position in Camden National by 65.4% during the 2nd quarter. Creative Planning now owns 20,927 shares of the financial services provider’s stock valued at $691,000 after acquiring an additional 8,274 shares in the last quarter. Inspire Investing LLC purchased a new position in shares of Camden National during the 2nd quarter worth approximately $349,000. Finally, Renaissance Technologies LLC raised its position in shares of Camden National by 1.3% in the 2nd quarter. Renaissance Technologies LLC now owns 282,200 shares of the financial services provider’s stock worth $9,313,000 after acquiring an additional 3,600 shares in the last quarter. Institutional investors own 77.41% of the company’s stock.

About Camden National

Camden National Corporation operates as the bank holding company for Camden National Bank that provides various commercial and consumer banking products and services for consumer, institutional, municipal, non-profit, and commercial customers in Maine, New Hampshire, and Massachusetts. The company accepts checking, savings, time, and brokered deposits, as well as deposits with the certificate of deposit account registry system.